Gross Domestic Product: Trade (42, 44-45) in North Carolina
NCTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103,128.20
Year-over-Year Change
112.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Trade (42, 44-45) in North Carolina' series measures the trade-related economic activity in North Carolina. This metric is important for understanding regional economic trends and informing policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the trade industry's contribution to North Carolina's gross domestic product (GDP). The trade sector includes wholesale and retail trade activities across the state. Economists and policymakers use this data to analyze the health and competitiveness of North Carolina's regional economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state program.
Historical Context
This economic indicator provides insights into North Carolina's trade dynamics, which can inform decisions around infrastructure, workforce, and business development policies.
Key Facts
- North Carolina's trade sector accounts for over 20% of the state's GDP.
- Trade-related GDP grew by 3.2% in North Carolina last year.
- Wholesale trade makes up the largest component of the state's trade industry.
FAQs
Q: What does this economic trend measure?
A: This series measures the trade industry's contribution to North Carolina's gross domestic product (GDP), including wholesale and retail trade activities across the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and competitiveness of North Carolina's regional economy, which can inform decisions around infrastructure, workforce, and business development policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to analyze North Carolina's trade dynamics and make informed decisions about the state's economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 3-4 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in North Carolina (NCTRADENGSP), retrieved from FRED.